Angry Ferrari fans say the Italian company's new EV is too Californian

Key Points:

• Ferrari unveiled its first fully electric vehicle, the $640,000 Luce, which features a design influenced by Jony Ive, former Apple designer, leading some fans to compare it to an iPhone rather than a traditional Italian supercar.
• The Luce is larger and boxier than classic Ferraris to accommodate batteries and additional seating, blending traditional Ferrari elements with new EV functionality as envisioned by Ive’s design firm, LoveFrom.
• The launch comes amid a challenging EV market, with reduced incentives under the Trump administration and other automakers scaling back electric vehicle projects, complicating Ferrari’s transition from gas-powered models.
• Loyal Ferrari fans have expressed skepticism about the Luce’s design and electric nature, with some fearing it could damage the brand’s legendary status, a sentiment echoed by former chairman Luca di Montezemolo.
• Ferrari’s shares dropped about 8% following the Luce’s debut, reflecting investor concerns over the vehicle’s reception and the brand’s future in the EV market.